Assets | September 30, 2025 AMOUNT % | December 31, 2024 AMOUNT % | September 30, 2024 AMOUNT % | ||||
1100 | Current Assets Cash and cash equivalents | $ 13,696,699 | 29 | $ 14,371,963 | 31 | $ 12,313,348 | 29 |
1110 | Financial assets at fair value through profit | ||||||
or loss-current | 26,157 | - | 35,154 | - | 435 | - | |
1136 | Financial assets at amortised cost, net- | ||||||
current | 5,486 | - | 26,444 | - | 25,074 | - | |
1170 | Accounts receivable-net | 8,439,299 | 18 | 8,490,046 | 18 | 7,952,005 | 19 |
1180 | Accounts receivable-related parties | 47,126 | - | 45,092 | - | 41,765 | - |
1200 | Other receivables | 115,408 | - | 85,638 | - | 141,928 | - |
130X | Inventory | 7,797,412 | 17 | 6,902,469 | 15 | 6,469,188 | 15 |
1410 | Prepayments | 498,426 | 1 | 548,323 | 1 | 435,144 | 1 |
11XX | Total current assets Non-current assets | 30,626,013 | 65 | 30,505,129 | 65 | 27,378,887 | 64 |
1517 | Financial assets at fair value through other | ||||||
comprehensive income-non-current | 2,497,445 | 6 | 1,902,318 | 4 | 1,493,209 | 4 | |
1550 | Investments accounted for under the equity | ||||||
method | 1,671,432 | 5 | 1,692,544 | 4 | 1,637,431 | 4 | |
1600 | Property, plant and equipment | 9,935,589 | 20 | 9,728,988 | 20 | 9,343,969 | 21 |
1755 | Right-of-use assets | 602,944 | 1 | 745,341 | 2 | 777,267 | 2 |
1760 | Investment property-net | 24,570 | - | 24,684 | - | 24,730 | - |
1780 | Intangible assets | 666,942 | 1 | 725,032 | 2 | 705,613 | 2 |
1840 | Deferred income tax assets | 927,832 | 2 | 898,551 | 2 | 915,127 | 2 |
1900 | Other non-current assets | 225,635 | - | 293,487 | 1 | 278,702 | 1 |
15XX | Total non-current assets | 16,552,389 | 35 | 16,010,945 | 35 | 15,176,048 | 36 |
1XXX | Total assets | $ 47,178,402 | 100 | $ 46,516,074 | 100 | $ 42,554,935 | 100 |
September 30, 2025 | December 31, 2024 | September 30, 2024 | ||||||||
Liabilities and Equity | AMOUNT | % | AMOUNT | % | AMOUNT | % | ||||
Current liabilities | ||||||||||
2100 | Short-term borrowings | $ | 1,844,817 | 4 | $ | 879,424 | 2 | $ | 501,517 | 1 |
2120 | Financial liabilities at fair value through profit or loss-current | 4,120 | - | 5,020 | - | 14,189 | - | |||
2130 | Contract liabilities-current | 755,091 | 2 | 872,706 | 2 | 714,919 | 2 | |||
2170 | Accounts payable | 7,304,493 | 15 | 6,524,169 | 14 | 6,492,509 | 16 | |||
2180 | Accounts payable-related parties | 187,686 | - | 70,489 | - | 81,986 | - | |||
2200 | Other payables | 3,625,543 | 8 | 3,777,743 | 8 | 3,380,299 | 8 | |||
2230 | Current income tax liabilities | 644,229 | 1 | 847,908 | 2 | 608,732 | 1 | |||
2250 | Provision for liabilities-current | 252,033 | 1 | 263,937 | 1 | 256,560 | 1 | |||
2280 | Lease liabilities-current | 122,442 | - | 157,133 | - | 155,390 | - | |||
2320 | Long-term borrowings, current portion | 399,059 | 1 | 347,064 | 1 | 333,720 | 1 | |||
2365 | Refund liabilities-current | 542,799 | 1 | 849,947 | 2 | 601,462 | 1 | |||
2399 | Other current liabilities, others | 32,626 | - | 29,285 | - | 26,152 | - | |||
21XX | Total current liabilities | 15,714,938 | 33 | 14,624,825 | 32 | 13,167,435 | 31 | |||
2527 | Non-current liabilities Contract liabilities-non-current | 1,194,962 | 3 | 1,194,827 | 3 | 1,053,645 | 2 | |||
2540 | Long-term borrowings | 1,829,861 | 4 | 2,038,131 | 3 | 1,749,612 | 5 | |||
2550 | Provisions for liabilities-non-current | 855,105 | 2 | 637,267 | 1 | 597,443 | 1 | |||
2570 | Deferred income tax liabilities | 684,745 | 1 | 697,950 | 2 | 617,556 | 1 | |||
2580 | Lease liabilities-non-current | 178,972 | - | 267,374 | 1 | 311,568 | 1 | |||
2600 | Other non-current liabilities | 9,573 | - | 10,528 | - | 9,736 | - | |||
25XX | Total non-current liabilities | 4,753,218 | 10 | 4,846,077 | 10 | 4,339,560 | 10 | |||
2XXX | Total liabilities | 20,468,156 | 43 | 19,470,902 | 42 | 17,506,995 | 41 | |||
3110 | Equity attributable to owners of parent Share capital Common stock | 6,208,444 | 13 | 6,181,424 | 13 | 6,152,014 | 14 | |||
3200 | Capital surplus Capital surplus | 4,077,380 | 9 | 3,981,068 | 9 | 3,873,146 | 9 | |||
3310 | Retained earnings Legal reserve | 3,726,206 | 8 | 3,275,606 | 7 | 3,275,606 | 8 | |||
3320 | Special reserve | 19,660 | - | 262,983 | 1 | 262,983 | 1 | |||
3350 3400 | Unappropriated retained earnings Other equity Other equity interest | 9,758,954 324,314 | 20 1 | 9,745,296 1,064,272 | 21 2 | 8,686,359 388,858 | 20 1 | |||
31XX | Total equity attributable to owners of | 24,114,958 | 51 | 24,510,649 | 53 | 22,638,966 | 53 | |||
36XX | parent Non-controlling interest | 2,595,288 | 6 | 2,534,523 | 5 | 2,408,974 | 6 | |||
3XXX | Total equity | 26,710,246 | 57 | 27,045,172 | 58 | 25,047,940 | 59 | |||
3X2X | Significant Contingent Liabilities and Unrecognised Contract Commitments Total liabilities and equity | $ | 47,178,402 | 100 | $ | 46,516,074 | 100 | $ | 42,554,935 | 100 |
2025 | 2024 | 2025 | 2024 | |||||||||||
Items | AMOUNT | ％ AMOUNT | ％ | AMOUNT | ％ | AMOUNT | ％ | |||||||
4000 | Operating revenues | $ 9,773,392 | 100 | $ 9,136,062 | 100 $ | 29,134,542 | 100 $ | 26,495,219 | 100 | |||||
5000 | Operating costs | ( 6,690,611) ( 68) | ( 6,209,138) ( 68) | ( 19,787,445) ( 68) | ( 18,085,124) ( 68) | |||||||||
5900 | Gross profit | 3,082,781 32 | 2,926,924 32 | 9,347,097 32 | 8,410,095 32 | |||||||||
Operating expenses | ||||||||||||||
6100 | Selling expenses | ( | 731,065) ( | 7) | 714,094) ( | 8 | ( | 2,157,669) ( | 8 | ( | 1,850,483) ( | 7) | ||
6200 | Administrative expenses | ( | 301,101) ( | 3) | 362,967) ( | 4 | ( | 967,975) ( | 3 | ( | 1,317,201) ( | 5) | ||
( ) )
( ) )
6300 | Research and development expenses | ( 523,739) ( 5) | ( 488,186) ( 5) | ( 1,506,008) ( 5) | ( 1,331,751) ( 5) | ||||||||
Total operating expenses | ( 1,555,905) ( 15) | ( 1,565,247) ( 17) | ( 4,631,652) ( 16) | ( 4,499,435) ( 17) | |||||||||
6900 | Operating profit | 1,526,876 | 17 | 1,361,677 | 15 | 4,715,445 | 16 | 3,910,660 | 15 | ||||
Non-operating income and expenses | |||||||||||||
7100 | Interest income | 57,501 | 1 | 61,646 | 1 | 198,633 | 1 | 183,973 | 1 | ||||
7010 | Other income | 26,418 | - | 21,310 | - | 66,141 | - | 90,880 | - | ||||
7020 | Other gains and losses | 27,096 | - | ( | 15,264) | - | 15,583 | - | 99,565 | - | |||
7050 | Finance costs | ( | 27,279) | - | ( | 24,438) | - | ( | 71,011) | - | ( | 72,865) | - |
7060 | Share of profit and losses of associates and joint ventures accounted for | ||||||||||||
50,658 - 46,026 - 168,176 1 184,117 1 under the equity method | |||||||||||||
7000 | Total non-operating income and expenses | 134,394 | 1 | 89,280 | 1 | 377,522 | 2 | 485,670 | 2 | ||||
7900 | Profit before income tax | 1,661,270 | 18 | 1,450,957 | 16 | 5,092,967 | 18 | 4,396,330 | 17 | ||||
7950 | Income tax expense | ( 298,878) | ( 4) | ( 276,983) | ( 3) | ( 971,351) | ( 3) | ( 826,059) | ( 3) | ||||
8200 | Profit for the period | $ | 1,362,392 | 14 | $ | 1,173,974 | 13 | $ | 4,121,616 | 15 | $ | 3,570,271 | 14 |
2025 | 2024 | 2025 | 2024 | ||||||||||
Items | AMOUNT | ％ AMOUNT | ％ AMOUNT | ％ AMOUNT | ％ | ||||||||
Other comprehensive income (loss) (net) | |||||||||||||
Items that will not be reclassified subsequently to profit or loss | |||||||||||||
8316 | Unrealised value gain (loss) on equity instrument at fair value through other comprehensive income (loss) | $ | 652,645 | 7 | $( | 65,288) ( | 1) $ | 531,107 | 2 | $ | 21,369 | - | |
8320 | Share of other comprehensive income (loss) of associates and joint ventures | 22,796 | - | ( 23,301) - | 21,110 | - | 30,617 | ( 1) | |||||
8310 | Other comprehensive income (loss) that will not be reclassified to profit or loss | 675,441 | 7 | ( 88,589) ( 1) | 552,217 | 2 | 51,986 | ( 1) | |||||
Items that may be reclassified subsequently to profit or loss | |||||||||||||
8361 | Exchange differences arising on translation of foreign operations | 811,744 | 8 | ( | 217,782) ( | 3) | ( | 1,261,161 | ( 5) | 669,071 | 3 | ||
8370 | Share of other comprehensive income (loss) of associates and joint ventures | 64,789 | 1 | ( 17,620) | - | ( 96,383) | - | 46,977 | - | ||||
8360 | Other comprehensive income (loss) that may be reclassified to profit or loss | 876,533 | 9 | ( 235,402) | ( 3) | ( 1,357,544) | ( 5) | 716,048 | 3 | ||||
8300 | Other comprehensive income (loss) for the period, net of tax | $ 1,551,974 | 16 | $( 323,991) | ( 4) | $( 805,327) | ( 3) | $ 768,034 | 2 | ||||
8500 | Total comprehensive income (loss) for the period | $ 2,914,366 | 30 | $ 849,983 | 9 | $ 3,316,289 | 12 | $ 4,338,305 | 16 | ||||
Profit attributable to： | |||||||||||||
8610 | Owners of the parent | $ 1,312,908 | 13 | $ 1,134,903 | 13 | $ 3,942,766 | 14 | $ 3,393,688 | 13 | ||||
8620 | Non-controlling interest | 49,484 | 1 | 39,071 | - | 178,850 | 1 | 176,583 | 1 | ||||
$ 1,362,392 | 14 | $ 1,173,974 | 13 | $ 4,121,616 | 15 | $ 3,570,271 | 14 | ||||||
Comprehensive income (loss) attributable to： | |||||||||||||
8710 | Owners of the parent | $ 2,807,415 | 29 | $ 804,852 | 9 | $ 3,204,996 | 12 | $ 4,105,253 | 15 | ||||
8720 | Non-controlling interest | 106,951 | 1 | 45,131 | - | 111,293 | - | 233,052 | 1 | ||||
$ 2,914,366 | 30 | $ 849,983 | 9 | $ 3,316,289 | 12 | $ 4,338,305 | 16 | ||||||
Basic earnings per share | |||||||||||||
)
9750 | Net income attributable to owners of the parent | $ 2.12 | $ 1.85 | $ 6.36 | $ 5.55 |
9850 | Diluted earnings per share Net income attributable to owners of the parent | $ 2.09 | $ 1.81 | $ 6.27 | $ 5.42 |
Equity attributable to owners of the parent
Retained earnings Otehr equity interest
Unrelised gains (losses) from financial assets mearsured at
Currency fair value through other
Common Sotck Capital Surplus Legal reserve Special reserve
Unappropriated
retained earnings
translation
differences
comprehensive
income Total
Non-controlling
interest Total Equity
2024 | ||||||||||||||||||||||||
Balance at January 1,2024 | $ 6,098,579 | $ 3,758,948 | $ 2,898,191 | $ 199,988 | $ 8,734,893 | $( | 664,253) $ | 401,270 | $ 21,427,616 | $ 2,208,790 | $ 23,636,406 | |||||||||||||
Net income | - | - | - | - | 3,393,688 | - | - | 3,393,688 | 176,583 | 3,570,271 | ||||||||||||||
Other comprehensive income (loss) | - | - | - | - | - | 659,579 | 51,986 | 711,565 | 56,469 | 768,034 | ||||||||||||||
Total comprehensive income (loss) | - | - | - | - | 3,393,688 | 659,579 | 51,986 | 4,105,253 | 233,052 | 4,338,305 | ||||||||||||||
Appropriations of 2023 earnings | ||||||||||||||||||||||||
Legal reserve | - | - 377,415 | - | ( | 377,415) | - | - - | - - | ||||||||||||||||
Special reserve | - | - - | 62,995 | ( | 62,995) | - | - - | - - | ||||||||||||||||
Cash dividends | - | - - | - | ( | 3,055,190) | - | - ( 3,055,190) | - ( 3,055,190) | ||||||||||||||||
Change in associates and joint ventures accounted for | - | ( 759 | ) - | - | 59,724 | - | ( | 59,724 | ) ( | 759) | - | ( 759) | ||||||||||||
under equity method | ||||||||||||||||||||||||
Recognition of changes in the subsidiary's equity | - | ( 5,309 | ) - | - | ( 6,346) | - | - | ( 11,655) | 11,655 | - | ||||||||||||||
Exercise of employee stock options | 53,435 | 81,522 | - | - | - | - | - | 134,957 | 62,863 | 197,820 | ||||||||||||||
Compensation cost of share-based payment | - | 38,744 | - | - | - | - | - | 38,744 | 12,036 | 50,780 | ||||||||||||||
Cash dividends paid to non-controlling interest | - | - | - | - | - | - | - | - | ( | 119,422) | ( 119,422) | |||||||||||||
Balance at September 30, 2024 | $ 6,152,014 | $ 3,873,146 | $ 3,275,606 | $ 262,983 | $ 8,686,359 | $( | 4,674) $ | 393,532 | $ 22,638,966 | $ | 2,408,974 $ | 25,047,940 | ||||||||||||
2025 | ||||||||||||||||||||||||
Balance at January 1, 2025 | $ | 6,181,424 | $ | 3,981,068 | $ | 3,275,606 | $ | 262,983 | $ | 9,745,296 | $ | 388,372 $ | 675,900 | $ | 24,510,649 | $ | 2,534,523 $ | 27,045,172 | ||||||
Net income | - | - | - | - 3,942,766 | - | - | 3,942,766 | 178,850 | 4,121,616 | |||||||||||||||
Other comprehensive income (loss) | - | - | - | - - | ( 1,289,987) | 552,217 | ( | 737,770) | ( | 67,557) | 805,327) | |||||||||||||
Total comprehensive income (loss) | - | - | - | - 3,942,766 | ( 1,289,987) | 552,217 | 3,204,996 | 111,293 | 3,316,289 | |||||||||||||||
Appropriations of 2024 earnings | ||||||||||||||||||||||||
Legal reserve | - | - 450,600 | - | ( | 450,600) | - | - - | - - | ||||||||||||||||
Reversal of special reserve | - | - - | ( 243,323 | ) | 243,323 | - | - - | - - | ||||||||||||||||
Cash dividends | - | - - | - | ( | 3,713,447) | - | - ( 3,713,447) | - ( 3,713,447) | ||||||||||||||||
Change in associates and joint ventures accounted for | - | 1,656 | - | - | 2,188 | - | ( | 2,188 | ) 1,656 | - | 1,656 | |||||||||||||
under the equity method | ||||||||||||||||||||||||
Recognition of changes in the subsidiary's equity | - | - | - | - | ( 10,572) | - | - | ( 10,572) | 10,572 | - | ||||||||||||||
Exercise of employee stock options | 27,020 | 72,889 | - | - | - | - | - | 99,909 | 40,585 | 140,494 | ||||||||||||||
Compenstion cost of share-based payment | - | 21,767 | - | - | - | - | - | 21,767 | 4,001 | 25,768 | ||||||||||||||
Cash dividends paid to non-controlling interest | - | - | - | - | - | - | - | - | ( 105,686) | ( 105,686) | ||||||||||||||
Balance at September 30, 2025 | $ 6,208,444 | $ 4,077,380 | $ 3,726,206 | $ 19,660 | $ 9,758,954 $( | 901,615) $ | 1,225,929 | $ 24,114,958 | $ 2,595,288 $ | 26,710,246 | ||||||||||||||
(
Nine months ended September 30 2025 2024CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax | $ 5,092,967 $ | 4,396,330 | ||
Adjustments | ||||
Adjustments to reconcile profit (loss) Reversal of expected credit gain | ( | 145) | ( | 1,052) |
Depreciation expense | 958,581 | 965,813 | ||
Amortization on intangiable assets | 23,634 | 30,810 | ||
Net loss(gain) on financial assets and liabilities at fair value through profit and loss Interest expense | 8,286 71,011 | ( | 25,981) 72,865 | |
Interest income | ( | 198,633) | ( | 183,973) |
Dividend income | ( | 25,664) | ( | 32,831) |
Share-based payments | 25,768 | 50,780 | ||
Share of profit of associates and joint ventures accounted for unsing | ( | 168,176) | ( | 184,117) |
equity method Gain on disposal of property, planty and equipment | ( | 6,188) | ( | 13,281) |
Changes in operating assets and liabilities Changes in operating assets Notes receivable | - | 82 | ||
Accounts receivable | 50,892 | 634,446 | ||
Accounts receivable-related parties | ( | 2,034) | ( | 3,211) |
Other receivables | ( | 35,218) | ( | 105,855) |
Inventory | ( | 894,943) | ( | 526,671) |
Prepayments | ( | 2,714) | 67,258 | |
Other non-current assets Changes in operating liabilities Contract liabilities | ( ( | 13,709) 117,480) | 3,678 76,285 | |
Accounts payable | 780,324 | ( | 155,696) | |
Accounts payable-related parties | 117,197 | 22,964 | ||
Other payables | ( | 225,235) | 70,692 | |
Provisions for liabilities | 205,934 | 117,020 | ||
Refund liabilities | ( | 307,148) | ( | 411,559) |
Other current liabilities | 3,341 | ( | 1,021) | |
Other non-current liabilities | 203 | ( 2,111) | ||
Cash inflow generated from operations | 5,340,851 | 4,861,664 | ||
Interest received | 204,081 | 184,066 | ||
Dividends received | 133,920 | 177,808 | ||
Interest paid | ( 64,516) | ( 86,104) | ||
Income tax paid | ( 1,164,904) | ( 1,066,603) | ||
Net cash flows from operating activities | 4,449,432 | 4,070,831 | ||
CASH FLOWS FROM INVESTING ACTIVITIES
Nine months ended September 30 2025 2024Acquisition of financial assets at fair value through other comprehansive income | ( 72,119) | ( | 70,000) | |
Proceeds from capital return of financial assets at fair value through other comprehensive income Acquisition of financial assets measured at amortised cost | 8,099 ( 9,855) | ( | 18,513 20,292) | |
Proceeds from disposal of financial assets measured at amortised cost-current | 20,958 | 9,971 | ||
Proceeds from capital return of investments accounted for under the equity method | - | 74,971 | ||
Acquisition of property, plant and equipment | ( 1,177,803) | ( | 1,466,735) | |
Proceeds from disposal of property, plant and equipment | 23,411 | 38,306 | ||
Decrease in refundable deposits | 2,379 | 12,513 | ||
Acquisition of intangible assets | ( 8,877) | ( 31,068) | ||
Net cash flows used in investing activities | ( 1,213,807) | ( 1,433,821) | ||
CASH FLOWS FROM FINANCING ACTIVITIES Increase(Decrease) in short-term loans | 965,393 | ( | 316,813) | |
Proceeds from long-term debt | 964,603 | 554,973 | ||
Repayments of long-term debt | ( | 1,120,878) | ( | 299,157) |
(Decrease)Increase in deposits received | ( | 1,158) | 39 | |
Repayment of lease liabilities | ( | 108,893) | ( | 123,776) |
Cash dividends paid | ( | 3,713,447) | ( | 3,055,190) |
Exercise of employee share options | 140,494 | 197,820 | ||
Cash dividends paid to non-controlling interest | ( 105,686) | ( 83,927) | ||
Net cash flows used in financing activities | ( 2,979,572) | ( 3,126,031) | ||
Net effects of changes in foreign exchange rates | ( 931,317) | 403,632 | ||
Net decrease in cash and cash equivalents | ( 675,264) | ( 85,389) | ||
Cash and cash equivalents at beginning of period | 14,371,963 | 12,398,737 | ||
Cash and cash equivalents at end of period | $ 13,696,699 | $ 12,313,348 | ||